Iridium Communications Inc (NASDAQ:IRDM) stock gained on Tuesday after it announced that the U.S. Department of Transportation (DOT) selected it for an award under the Complementary Positioning, Navigation, and Timing (CPNT) Action Plan Rapid Phase Award II to expand the deployment of Iridium PNT services nationwide.
Working with T-Mobile US Inc (NASDAQ:TMUS), the satellite communications company is launching live-site activations across the U.S. to provide advanced 5G network timing synchronization.
The DOT's CPNT Action Plan aims to strengthen national PNT resilience by testing and validating commercially available technologies that safeguard critical infrastructure, such as 5G networks.
Under the new contract, T-Mobile will install Iridium PNT receivers at 90 additional live 5G network sites in diverse U.S. locations.
The technology will protect against GPS disruptions that could affect 5G performance, helping maintain precise timing and data integrity essential for speed, capacity, and reliability.
T-Mobile will also conduct equipment testing under normal and adverse conditions at its indoor test range, enabling DOT, Iridium, and T-Mobile to analyze performance results firsthand.
Iridium's PNT service delivers sub-100-nanosecond timing accuracy—finer than a millionth of a second—secured with cryptographic protection.
Iridum stock tanked 36% year-to-date as it grappled with rivalry from Amazon‘s Project Kuiper and Starlink.
IRDM Price Action: Iridium Communications shares were up 4.12% at $19.44 at the time of publication on Tuesday. The stock is near its 52-week low of $17.07, according to Benzinga Pro data.
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